our own self interest - the promotion of one’s own well being 39) Ethnocentrism – where a person judges other cultures against the standard of their own a) My culture is superior, or the “normal” 40) Cultural Relativism – where sociologist try to be objective a) Not let ethnocentrism affect their study of other cultures b) Sociologist does not impose his own meaning on what is observed 41) Ethical Relativism – to be judged based upon one’s own feelings about what is right and wrong a) Not popular because society generally prefers universal standards of right and wrong 42) Social Responsibility – when a company takes into account society’s values and objectives when making decisions a) Companies that practice social responsibility try to balance being profitable with the needs of the those in the company a.i) Examples: fair employment practices, helping urban renewal and development, working with educational institutions, and limiting pollution 43) Corporate Social Responsibility (CSR) - also called Corporate Citizenship - emphasized obligations and accountability

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a) Weighs the impact of the company’s actions on society b) Also includes Corporate Social Responsiveness, and Corporate Social Performance 44) William Frederick – used the terms: a) CSR1 – for Corporate Social Responsibility b) CSR2- for Corporate Social Responsiveness – emphasizes activity and action b.i)According to Ackerman and Bauer – social responsiveness is essential in that it denotes a dynamic action-oriented condition b.ii) According to Ian Wilson’s view of Social Responsiveness there are 4 possible business strategies and are modes of philosophies; which are (b.ii.1) Reaction – an organization that denies responsibility for its actions is assuming reaction strategy, (b.ii.1.a) an example of this was when the company that manufactured asbestos discovered it caused fatal lung disease, chose to hide the evidence rather than try and find safer working environments (b.ii.1.b) Or the tobacco company who knew that tobacco was addictive yet continued to promote “light cigarettes” and market them to teens (b.ii.2) Proaction – an organization that actively seeks to improve the welfare of society (b.ii.2.a) Example: Mary Kay contributing to women’s health issues like breast cancer (b.ii.3) Defense - a company that admits responsibility for its actions but responds by doing only the bare minimum (b.ii.4) Accommodation – a company that readily adapts their behavior to conform to public policy and responds to public expectations (b.ii.4.a) Example – a bank that goes beyond the minimum requirement of disclosure and maintains an on-demand disclosure policy c) CSR3 – Corporate Social Rectitude – concerns the moral correctness of policies formulated and actions taken 45) CSR Economic Responsibility- requirement that a company earn a profit comes under the heading economic responsibility a.i) Companies are required by the public to keep costs low, maximize sales, and earn a profit 46) CSR Legal Responsibility

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